EX-12.1 6 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement Regarding Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

 

Computation of Ratios of Earnings to Fixed Charges

 

     Dollars in thousands

 
    

Quarter Ended

3/27/05


    Fiscal Years Ended

 
       12/26/04

    12/28/03

    12/29/02

    12/30/01

    12/31/00

 

Earnings Available for Fixed Charges:

                                                

Income from continuing operations before income taxes

   $ 409,023     $ 2,015,364     $ 1,861,337     $ 1,765,751     $ 1,413,444     $ 1,652,026  

Add: fixed charges

     50,720       165,180       161,518       167,010       250,103       251,105  

Add: amortization of capitalized interest

     545       2,012       2,006       1,962       1,715       1,800  

Add: distributed income of equity investees

     4,554       12,259       14,016       13,500       17,516       7,832  

Less: interest capitalized

     (683 )     (4,802 )     (3,355 )     (2,074 )     (8,550 )     (11,167 )
    


 


 


 


 


 


Adjusted Earnings

   $ 464,159     $ 2,190,013     $ 2,035,522     $ 1,946,149     $ 1,674,228     $ 1,901,596  
    


 


 


 


 


 


Fixed Charges:

                                                

Interest on indebtedness, excluding capitalized interest

   $ 44,938     $ 140,647     $ 139,271     $ 146,359     $ 221,854     $ 219,228  

Capitalized interest

     683       4,802       3,355       2,074       8,550       11,167  

Portion of rents representative of interest factor

     5,099       19,731       18,892       18,577       19,699       20,710  
    


 


 


 


 


 


Fixed Charges

   $ 50,720     $ 165,180     $ 161,518     $ 167,010     $ 250,103     $ 251,105  
    


 


 


 


 


 


Ratio of Earnings to Fixed Charges

     9.2       13.3       12.6       11.7       6.7       7.6